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This is the Rich Dad radio show the good News and bad news about money here’s Robert Kiyosaki hello hello Robert Kiyosaki the Rich today radio show the Good news and bad news about money and Today we have a very important show oh Chris all our shows are important but Given the bunch of turmoil going on the Economy today and we still don’t know Who present the president is so this is Going to be a delayed broadcast to Understand that timing is everything in This thing you know if If Trump does overturn it which seems Unlikely right now we’ll have World War 12. you know all hell will break loose And if Biden Takes over We’re going to have the monsters for Those of you are probably too old for That show I mean too young for that show just look It up in there you’ll you’ll see his Cabinet Biden’s cabinet is called the monsters And he just Biden just said oh I’m gonna Get Janet Yellen who was the former fed Chairman To be Secretary of Treasury Oh isn’t that wonderful well the average out there doesn’t know what that Means and the reason Um appointing Yellen as head of the Treasury we’ve just gone centralized
We’ve gone communist now and the reason Is because she was head of the fed and The Federal Reserve Bank a centralized Bank is supposed to be separate from the Treasury If you understand that they should not Be together anyway that’s all I did Anyway so this is a very exciting times If Trump gets elected we go to war And if Biden stays in I don’t know What’s going to happen so that’s why we Have a very important show today we have Rich Dad advisor and one of the most Important member of any Uh entrepreneurial team is a guy like Tom wheelwright who’s calling the shots On taxes Jenna Yellen the government It’s after your tax money you know that And the reason for that is in 1971 President Nixon took the dollar off the Gold standard and the U.S dollar became A function of debt and taxes so that’s Kind of why the rich debt company was Founded And that’s why guys like President Trump Doesn’t don’t pay taxes I don’t pay Taxes you know you’re paying taxes then You went to the wrong school I mean That’s all it means to me so that’s why Tom wheelwright his book his book is Called tax-free wealth if you want to Read the real story of America read text Me wealth and you’ll find out why
They’re rich at getting richer and the Idiots are going to school and paying Taxes you see somebody has to pay the Tax So if you understand that then you’ll Understand why you shouldn’t go to School So with that and then now with the Monsters [Laughter] I grew up watching those characters and Now I’ve got to watch them as an adult Man this is not this is not this is not Kind to my heart and my soul here but It’s entertaining so Tom welcome to the Show and we’re going to talk about uh Monsters That’s awesome well you know the Democrats have this magic money Theory Um I’m sorry modern monetary Theory Mt I Think it’s magic money Theory and and You know so that’s the FED right so they Think they can just print the money and Everything’s gonna be fine and and then You tax people to you know enact your Social policies I mean that’s really Taxes have become social policy more Than they have become even raising Revenue under that theory correct and You know what we’re talking about the New York Times attacks my friend Donald president Trump is he doesn’t pay Taxes well he doesn’t have a job He doesn’t take his salary as president
Of the United States so how can he pay Taxes Any comments about that Tom well no it It’s true I mean you know entrepreneurs Professional investors they that tax Laws just built for them and it’s it’s Built for the government sharing on uh The Investments that they make and Basically the government puts up part of The money and they put up part of the Money and they end up not paying taxes And that that’s basically the way to Hold tax laws structured so it’s not Going to change under bidens to get just Well all that’s going to change is where Those tax incentives why it’s not the Fact that tax incentives are never going To change well that’s that’s going to be Incentives but who’s going to get them Is the question and unfortunately the Average person is not going to get them The rich will still get the tax breaks Right well for sure the the average Person and there’s nothing in Biden’s Plan that says taxes are going down He says I’m not going to raise taxes on Certain people but there’s nowhere where He says I’m going to reduce taxes so They’re they’re just going to keep going Up they’re going to keep going up up and He says gonna he says he’s going to tax Your rich but what he’s really going to Do is tax the high income earners that’s Who he’s going to tax the guys with high
Paying jobs like Obama who was earning 400k a year and Biden was running 300K a Year they’re now billionaires so they Did something right Or like what they did or or like Kamala Harris who you know pays millions of Dollars in taxes so yeah anyway Uh just FYI I mean we always talk about The three basic taxes ordinary or the Effects of income ordinary income Portfolio income and passive income I Mean that’s basic Rich Dad Poor debt so Would you explain ordinary income Portfolio income and passive income and The reason Trump doesn’t pay taxes Because he doesn’t have a job no Ordinary income he doesn’t save money he Probably doesn’t have a 401k that’s all Ordinary income that’s what every idiots I mean every person out there is pain Right Tom right so ordinary income is is Basically income that you earn and Portfolio income is income from Investments like stocks bonds and mutual Funds and uh and passive income is Income from investments into real estate Oil and gas and other types of Productive activities right and that Then passive pays the least taxes Because you’re doing kind of what the Government wants you to do I mean that’s What you’re doing exactly what the Government wants you to do they’re They’re they’re putting in the
Incentives saying look if you do this we Will contribute Um if you don’t do it we’re not going to Contribute we’re just going to take our Taxes so you get to choose whether you Contribute and do what you what the Government wants done or you pay a lot Of taxes either way the government comes Out ahead So anyway uh when somebody says go to School get a job work hard save money And put your money in a 401k what kind Of taxes are they going to pay That’s ordinary taxes so those are the Highest tax rates why doesn’t the New York Times write that I think they’re all employees and They’re all paying the highest tax rates You know they don’t understand you know They clearly that you know they were Attacking somebody and uh you know they Don’t want to acknowledge the way the Tax level really works and you know Here’s the thing I mean Joe Biden was a Senator for almost 40 years and he he Was part of all those tax uh changes Right and he’s his family and you know The money by those tapes that nobody Played of Hunter bite and his son is Bag Man Uh that that money went to the bad and Biden family it didn’t go to Joe so they Never saw it And the New York Times or Silicon Valley
Would never report that stuff So today I just you know I’m sitting Here the election’s still in question it Can’t get any worse than this Tom what Could be worse than this Well I don’t know it’s you know anytime You mix the fat and Wall Street and the Treasury you’re in trouble at Silicon Valley I mean all those Geeks out there Well they’re out there protecting Silicon Valley pretty pretty heavily so They’re they they they really are Protecting those guys And then last night uh this was December 7th you know Pearl Harbor day but you Know Tucker Carlson dropped the biggest Bomb in America but the Press never got It it was a picture of a high of High-ranking Chinese official talking to The Chinese government saying everything Was fine You see all these rich guys were making Tons of money off of China You know even even guys like Ray dalio Whose money came from China you know It’s uh Bridgewater see these guys are Making fortunes off of China I mean I Was too But all of a sudden 2008 hit And the thing came apart and then what The Chinese guy was saying this is on Tucker Carlson December 7th watched the Show He would see this Chinese guy speaking
In Chinese that had to translate it of Course and a fox double verified the Translation so it was you know two Different people saying this two Treasures saying the same thing He says all of a sudden China realized Wall Street was in trouble in 2008. And then in 2016 Trump comes in and all Hell broke loose and this Chinese Official says but we have people in high Places in Washington And we’ll take care of trump So this was December 7th You know 2020 on Tucker Carlson show And then I’m just sitting there Chuckling I say monsters we come see The cabinet of the United States I mean What else can we ask for So Tom let’s get back to Texas [Laughter] Um uh are you going to protect me from The monsters oh yeah for sure so you Know like I said it’s really just the Incentives the incentives will change And we’ll just move to those incentives So you know for example you know if the Incentives we’re in uh multi-family Housing and they may move to uh real Estate that has to do with clean energy Okay but they’ll still be real estate They’ll they’ll still be energy so it May move from oil and gas to solar but They’re still going to be the incentives And it’s just a matter of watching
Carefully and knowing what’s coming and Then deciding are you going to put your Money where the government wants you to Put it but this is the point okay Tom Not one more thing it’s about why we Have no Financial education in school You and I’ve traveled the world We tell people the same thing We’ve been in capitalist countries Communist countries and no matter where We go capitalism or communists They all come up and say you can’t do This in my country is that correct Every one of them without even even in Even in Kazakhstan they came up to us But even in California well California Is an exception but anyway They say you can’t do this in America You can’t do this in America you can’t Do this in Kazakhstan you can’t do this In Australia but isn’t it the same all Over the world the rich don’t pay taxes The tax lies virtually identical around The world the incentives are slightly Different but you know if you follow What the tax law does and what the Government wants you to do you’re never Going to have to pay taxes if you know If you do what the government wants done Right so the most important thing here Is if you know Trump doesn’t overthrow This thing and then we have a revolution Then we’re going to figure out what the New tax incentives are going to be so
When we come back that’s what we’re Going to talk about because the monsters Work for China really they do and they Work for the radical left out of Silicon Valley that’s where the money comes from To fund the elections So as long as you know that and you Don’t get so upset by all they wouldn’t Do that then you could wake up and if You don’t believe me go to the Tucker Carlson show On the December 7th 2020 and watch this Chinese official sing exactly what I Just said since in 2008 when the stock Market when the real estate market Crashed in 2008 And uh Trump got elected president in 2016. he says well we have friends in High places And they’ll take care of trump and That’s what happened in this election So when you understand that and you Pretend that you know Mary Poppins is Not running the show if you think Janet Yellen these guys are here to put their Agenda of socialism through on America But the tax laws will remain the same Thank God so when we come back we’ve Been going into how You can still get rich and stay richer But you got to keep your minds open and Change your Forget what they taught you in the Communist republic of Education go to
School get a job work hard save money And put your money on 401k if you do That you’ll pay the highest taxes That through your head we’ll be right Back Welcome back Robert here ready to show The good news and bad news about money And today our special guest is Tom we All right we’re talking about the green You I mean the tax laws of The Munsters Anyway uh Tom is the author of tax-free Wealth how to build massive wealth by Primary lowering your taxes And one more thing is you can listen to The Rich Dad radio program anytime Anywhere on iTunes Android or YouTube And they’ll probably they’ll probably Dethrone me now for calling the President United States in this cabinet The Munsters but anyway they have no Sense of humor And please leave us a review whenever You listen you can listen to our our Podcast again on Rich Dad radio and we Archive our Park podcast for one reason So you can listen to it again and if you Listen to this again you might learn More about who and why is going to pay The more most taxes And also you can talk to your friends Family and business associates and Discuss this listen to this thing and You might open your open your minds As to why you might be making more money
But you’re just paying more in taxes Because as you guys should know by now The rich don’t pay taxes And there isn’t they don’t pay taxes is Because they have better Financial Education so as we started in the first Part of the show there’s three types of Income ordinary portfolio passive And the reason president Trump doesn’t Pay taxes Because she doesn’t have a job he Doesn’t save money And he doesn’t have a 401k And it drives the academic Elite nuts so With that said Tom let’s get back to the Other other things you know they say oh We’re only going to attack so I was Making over 400k a year so if you’re not Making 400k a year What would you say to them as a tax Expert well first thing I’d say is are You happy with the taxes you’re paying Now because they’re not going down okay So that’s the first thing is that you’re Already paying high taxes and so the Idea that they’re not going up oh wow Great they’re already high but they’re Not going up oh good so I find that Pretty hilarious Um and and that you know and they’re Gonna with the inflation and the whole Idea behind what the fed’s doing the Idea is to push wages up you’re going to Be over that four hundred thousand
Dollars pretty quick and even if you’re Not you know there’s a huge trickle down I mean the the reality is is the rich Are the employers right and so if if They’re getting if if they are getting Taxed then you can absolutely be sure That the employees are going to feel Feel the hit but there’s another way of Looking at this they must get inflation Up otherwise we’re dead that’s why Yellen took over the fed and the Treasury they have to get inflation Otherwise the economy collapses so they Just pushed this social BS they put out They want Starbucks all the Starbucks Employees to make 15 an hour minimum Which I feel for them but all that does Is push prices up You see if you understand the purpose of This whole thing is to push prices up to Get inflation because if they can’t if They can’t start inflation we have Deflation and that’s called depression And that’s why Janet Yellen take over From the fed and the treasury now They’re trying to push everything up so They want to push your wages up Or so you can pay more taxes and so that Means we’re going to have inflation in Everything so if Starbucks raises their Uh paid of 15 well it’s going to affect Everybody Because they’re everywhere Do you know I mean if you understand
That Then you’ll you’ll wonder why they don’t Teach you this in school and the reason They don’t teach you this in school it’s Most School teachers are hardcore Communists but they don’t know it Because they never studied Financial Education in school they don’t Understand this is a centralized Government we have and that’s what we Had a central bank and then we had a Treasury and now they’re one and most School teachers are communists but they Don’t know it they don’t know what Centralized government means we’re now Centralized government So that’s why what Tom is talking about Here you know if you’re sending your Kids to school you ain’t come out right Now and to you know slap some assets you Know put some Capitalist information into the head Because you go to school get a job you Save money and you put a 401k you got to Pay the highest taxes and they’re gonna Keep driving that up so they can get the Tax base up so they can pay off the debt Am I correct Tom Well there’s no question and of course The you know inflation by itself is the Tax so you know you you’re really Getting multiple taxes going on here Plus you’ve got you’ve got other taxes That they continue to raise all the
States now raising sales taxes property Taxes I mean look at all the different Taxes you’re talking about and and If The Fed doesn’t raise the taxes the States will right and then when they Raise taxes on property tax I just raise The Raised a rent to the to the poor tenant Right Well that’s what happened I mean the Rich never take the hit I mean let’s be Honest it’s not the rates that are going To take the hit it’s the it’s the Average consumer it’s the employee you Know it’s the average person that that Takes the hit every single time yeah so Listen to this remember they attacked President Trump was a friend of mine he Says stupid things but he knows what He’s doing they’re after him watch Tucker Carlson they said the moment when When Trump got elected in 2016 the Chinese guy says we have people in high Places that’s Hunter Biden and The Munsters If you understand that you’ll understand Why we’re in trouble but other part too It’s like I’m already making changes you Know because they’re after they’re after Uh oil And coal that’s who they’re after Because it’s a green New Deal so we had Maron katusa everybody should listen to That from the rich radio show American
Katuso is talking about how they’re Going to shift from fossil fuels to the Green New Deal and the green you deal is Where the tax breaks are going to come From so I’ve already made my shift so The funny thing is the taxes I mean the Capitalists will pay less in taxes Because the Socialists will be giving me The money to invest in the green you Deal am I correct Tom Oh that’s exactly what’s going to happen Because the the Socialists they can’t Make it happen all they can do is fund It okay but they’re going to fund it Through the tax breaks and so the Capitalists are going to get the funding Pay less taxes it’s just going to be It’s going to be uh clean energy but It’s going to be the capitalist way yeah I just uh you know I’m a second Individual when I see the cabinet of the United States but anyway my friend calls Him oh I’m so happy my daughter’s in the Honors program at school That’s just going to learn to be a Taxpayer That’s true And the school teachers don’t know They’re Communists because they don’t Study Financial economics You know if they knew going to school Getting a job saving money Uh getting out of debt and investing in A 401k makes you the highest taxpayer on
Planet Earth Tom would you want to slap them around And tell them to wake up well for sure I Mean that’s why they’re complaining About the rates not paying taxes because They pay taxes if they didn’t pay taxes They wouldn’t complain about the rich Not paying taxes and so every time you Know ALC and all those other Communists Start talking about the green new deal I Guess sexually stimulated I’m gonna oh More tax breaks laughs I gotta tell you I think the Opportunities are going to be Unbelievable I know this is this is the Biggest thing seriously this is the Biggest thing since the internet in my Mind Um just a whole different a whole Different economy a whole different set Of incentives a whole different set of Opportunities I mean this is you know Getting educated in this Robert I think What you’re doing on this is just Critical Yeah and then please check out the Rich Dad radio program katusa also we have a New book coming out called infinite Returns but the book’s just been morphed Into the capitalist Manifesto It’s the Reason it is is because the Communists Called our school teachers are still Running the system the Communists and Silicon Valley are still running the
System and uh monsters are now taking Over the system and we have Grandpa as Treasury And that If you get the significance of that You’ll understand communism but if you Don’t get the difference then you’ll Just at the capitalist for paying No taxes Please understand this is one of the Most biggest distinctions that’s all in Rich Dad Poor Dad but the average person Can’t see it Because they think saving money is smart They think a 401k is smart they think Earning more money is smart But that’s not it it’s a time to pay Taxes it is but not to make Get Rich or Pay less taxes yeah here’s the thing the People who pay high taxes also get the Lowest Returns on their investment Because the type of things that you Invest in to get the tax breaks also pay The higher returns and so it’s that Combination of just understanding that Well if you really understood the tax Law and you really understood Financial Education you’d make higher returns have Lower risk and pay no taxes right so I You know I want to endorse Tom’s book Tax-free wealth by Tom wheelwright it’s Rich that advisor book it’s the basis of Capitalism you wanna you wanna be a Communist or go to school you know
Go to school because they teach Marxism They teach leninism in school you know What Lenin said way back when before There was a Stalin What Stalin what Lenin said is that you Send a kid to school for eight years We’ve got a Bolshevik and a Bolshevik is A member of the Communist party that’s What Lenin says quote you can go to you Can look up Glennon and the other thing He said is the best way to kill Capitalism is to botch the currency and That’s what they did in 781 And that’s why there’s a fan that’s why It’s a treasury if you just study your F In history Not that communist history that they Teach you and all this stuff about we’re Tearing down our statues and trying to Change our history why don’t you read History you idiots you know why don’t You read Real History understand why we Go to war what do we do why are we Fighting socialism why are we fighting Communism why do we fight Marxism And it goes into our money and our taxes And that’s why Tom wheelwright is Essential for his book tax-free wealth Should be your Bible as to how to become A capitalist So Tom I’ll give you a final pitch why Should people read your book well if They’re if they’re going to be Communists don’t read it but if you’re
Going to be a capitalist why should they Read it You know if if you literally want to Make more money and pay less tax while You’re making more money okay then That’s what tax-free wealth is all about It’s it’s really how do I do things that The government wants me to do they’re More productive that actually give us Higher returns to actually give me Control over my life not that those Ridiculous 401k and profit sharing Pension plans that you have absolutely No control over and you can control this You can send your kids to school Tax-free I mean you can have your kids Earning lots of money and paying very Little tax for your kids so it’s not Just you think about your children and Their children and this is something That is really a a legacy of being able To pass on the financial education to Your children and your children’s Children correct and so my friend who Said oh my daughter is in the honors Program at school Well what would you say to them Well I’d say great okay we need more Taxpayers that are going to pay a lot of Tax That’s awesome Well when it might be a new Cabinet Member So with that Tom you know the reason I’m
Laughing so much because it’s so sad I Have to laugh otherwise I shoot myself Do I mean just step back watch Tucker Carlson December 7th you know talking About the Chinese thing when Trump came In we have people in high places Well that person in high pace is what Joe Biden and his family and now his Cabinet is The Munsters you know Janet Yellen was head of the treasury I’m Ahead of the fed and now she’s had if She’s if if they transition they’ll be Ahead of the treasury That’s communism if you understand that You’ve got something from today’s show And if you think I’m an idiot for saying You’re probably a communist anyway Tom’s Website is wealthability.com final words Tom You know I finally I was thinking about What you’re saying about the cabinet and Everything I’m going you know Trump’s Been attacked for upsetting The Establishment and Biden’s bringing in The establishment to run the country so That that’s what’s going on and the good News is there’s always going to be tax Breaks there’s always way to reduce your Taxes uh make more money and you get to Choose you get to choose what you do so That’s good and please go through the Archives again the archives is where You’ll find marine katusa’s program with Rich Dad and we’re talking about what’s
Called Cosmic accounting it’s God’s Accounting system and thank God the Socialists are going to push through the Grand new deal because the capitalists Will get richer hey Tom thank you very Much and we come back with one of the Final awards from Rich Dad Radio thanks Tom I think I better move into a safe house And hide because this medium come after Me on this one all those Communists once Again if you think I’m an idiot it might Be because you’re a communist I’m I’m Serious because they don’t teach you This in school they teach you to go to School get a job or a car and save money And put your money and get out of debt And put your money in a 401k That’s everything that keeps you poor You know you can talk you can ask Tom Debt is for tax-free money right that’s Right that’s why I borrow so much and The other guys tell you not to borrow so If you get those differences you’ll Understand why you probably think like a Socialist or a communist or a Marxist And capitalists think differently And that’s why on Tucker Carlson December 7th into the Chinese guys we Have to get rid of this guy Trump and we Have friends in high places anyway Tom Thanks very much thank you Thanks Robert I’ll listen to the Rich Dad radio program If he if I disappear
You’ll know why thank you very much bye [Music] [Applause] [Music] Thank you [Music] [Applause] [Music] [Applause] [Music] Foreign [Music] [Applause] [Music] [Applause] [Music] [Applause] [Music] Foreign [Applause] [Music] [Applause] [Music] [Applause] [Music] [Applause] [Music] [Applause] [Music]
